Dubai is setback but world economy can cope: UK's Brown
Published on Sun, Nov 29, 2009 at 10:21 | Source : Reuters
Updated at Mon, Nov 30, 2009 at 15:28
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Dubai is setback but world economy can cope: UK's Brown
The spectre of a debt default in Dubai is a problem but the world economy is now strong enough to surmount it, British Prime Minister Gordon Brown said on Friday.
The spectre of a debt default in Dubai is a problem but the world economy is now strong enough to surmount it, British Prime Minister Gordon Brown said on Friday.
"My own view is the world financial system is stronger now and able to deal with the problems that arise," Brown told reporters on a trip to a summit meeting of leaders from Comonwealth countries.
"While it is a setback I think we will find it is not on the scale of previous problems we have dealt with. I think global recovery has depended on monetary action and fiscal stimulus."
He said he had spoken to people in Dubai earlier this week and they still expected to go ahead with infrastructure projects in Britain.
"For example, the projects that Dubai for developing ports in Britain, they fully intend to go ahead (with)," he said.
